Sushma Swaraj seals Major Infrastructure loan deals with Japan!!
In this video, we will discuss Japanese monitory support for Indian infrastructure projects.
This year, India becomes largest recipient of Japanese Soft Loans
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Transcript -
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Lets discuss about today's topic.
You may be aware of Indian Foreign ministers ongoing Japan visit to participate in the strategic dialog with her Japanese counterpart.
During this meeting, Both countries have reiterated their commitment to ensure free and stable Indo Pacific region.
More importantly, Japan continues to financially support Indian Flagship development projects .
Japan has pledged to provide India with 149.2 billion Yen on loan.
This money translates in to 1.4 Billion US Dollars, or more than 900 crores Indian Rupees.
With this monetary support, In the financial year 2017, India received largest yen loans, that have ever been provided to any single country by Japanese government.
Though terms and conditions of this latest loan is not known yet, however we can safely assume, it would be kind of friendly soft loan to India.
Out of 149 Billion Yen loan, around 100 billion yen will be allocated toward work on Mumbai Subway line, or Mumbai Metro Line 3.
After completion, this 33.5 Kilometer long line will be first underground metro line in Mumbai.
Needless to say, it will reduce road congestion and provide faster and better mode of transport for people of India.
Japan will also be granting around 30 Billion yen loan to develop sea water desalination plant and related drinking water distribution facilities in Chennai.
Again being part of Smart City project, this Japanese assistance will provide safe drinking water and sewage systems for the residents of Chennai.
Japan is also providing 8 Billion yen to build intelligent road transport system to smartly solve the congestion problem of Chennai city.
Rest, 11 Billion yen will be utilized for planting trees and managing forest in Himachal Pradesh.
As you can see now, Japan Indian collaboration has covered divers areas.
However, we would have been happier, if any specific project of north east India had been selected for Japanese assistance.
Though we get more excited by any new collaboration in the area of defense, yet such constructive economic and infrastructural collaboration brings the real life in the vibrant Indo Japanese friendship.
And that's what our point is, we need not always be reactive to what China is doing. We got to proactively make our choices and build the better future for the communities of two greatest democracies in the world.
After all, Bright future with many possibilities is waiting for us.
As of now, We appreciate Japanese support to developmental needs of rapidly growing India.
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